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10-Q Filing

MEADWESTVACO CORP CIK: 1159297 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0001193125-14-184384
Period End Date 20140331
Filing Date 20140506
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance mwv-20140331.xml
Filing Contents
Balance Sheet 70 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $417.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $332.00M USD Point-in-time
Common stock, Shares authorized CommonStockSharesAuthorized 600.00M shares Point-in-time
Common stock, Shares authorized CommonStockSharesAuthorized 600.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.06B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $663.00M USD Point-in-time
Accounts receivable, net ReceivablesNetCurrent $735.00M USD Point-in-time
Accounts receivable, net ReceivablesNetCurrent $625.00M USD Point-in-time
Common stock, Shares issued CommonStockSharesIssued 174.44M shares Point-in-time
Common stock, Shares issued CommonStockSharesIssued 167.76M shares Point-in-time
Common stock, Shares outstanding CommonStockSharesOutstanding 174.44M shares Point-in-time
Inventories InventoryNet $731.00M USD Point-in-time
Inventories InventoryNet $686.00M USD Point-in-time
Common stock, Shares outstanding CommonStockSharesOutstanding 167.76M shares Point-in-time
Other current assets OtherAssetsCurrent $128.00M USD Point-in-time
Other current assets OtherAssetsCurrent $108.00M USD Point-in-time
Current assets AssetsCurrent $2.48B USD Point-in-time
Current assets AssetsCurrent $1.93B USD Point-in-time
Property, plant, equipment and forestlands, net PropertyPlantAndEquipmentNet $3.65B USD Point-in-time
Property, plant, equipment and forestlands, net PropertyPlantAndEquipmentNet $3.65B USD Point-in-time
Prepaid pension asset DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent $1.48B USD Point-in-time
Prepaid pension asset DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent $1.51B USD Point-in-time
Goodwill Goodwill $716.00M USD Point-in-time
Goodwill Goodwill $718.00M USD Point-in-time
Restricted assets held by special purpose entities RestrictedAssetsHeldBySpecialPurposeEntities $1.26B USD Point-in-time
Restricted assets held by special purpose entities RestrictedAssetsHeldBySpecialPurposeEntities $1.26B USD Point-in-time
Other assets OtherAssetsNoncurrent $700.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $713.00M USD Point-in-time
Total Assets Assets $9.76B USD Point-in-time
Total Assets Assets $10.29B USD Point-in-time
Accounts payable AccountsPayableCurrent $560.00M USD Point-in-time
Accounts payable AccountsPayableCurrent $563.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $534.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $392.00M USD Point-in-time
Notes payable and current maturities of long-term debt NotesAndLoansPayableCurrent $79.00M USD Point-in-time
Notes payable and current maturities of long-term debt NotesAndLoansPayableCurrent $85.00M USD Point-in-time
Current liabilities LiabilitiesCurrent $1.18B USD Point-in-time
Current liabilities LiabilitiesCurrent $1.04B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $1.85B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $1.82B USD Point-in-time
Non-recourse liabilities held by special purpose entities NonrecourseLiabilitiesOwedByConsolidatedSpecialPurposeEntities $1.11B USD Point-in-time
Non-recourse liabilities held by special purpose entities NonrecourseLiabilitiesOwedByConsolidatedSpecialPurposeEntities $1.11B USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $1.35B USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $1.35B USD Point-in-time
Other long-term obligations OtherLiabilitiesNoncurrent $734.00M USD Point-in-time
Other long-term obligations OtherLiabilitiesNoncurrent $745.00M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock, $0.01 par Shares authorized: 600,000,000 Shares issued and outstanding: 2014 - 167,763,627 (2013 - 174,443,439) CommonStockValue $2.00M USD Point-in-time
Common stock, $0.01 par Shares authorized: 600,000,000 Shares issued and outstanding: 2014 - 167,763,627 (2013 - 174,443,439) CommonStockValue $2.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $3.17B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $2.90B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $761.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $950.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-180.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-184.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-160.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-194.00M USD Point-in-time
Total shareholders' equity StockholdersEquity $3.94B USD Point-in-time
Total shareholders' equity StockholdersEquity $3.50B USD Point-in-time
Non-controlling interests MinorityInterest $155.00M USD Point-in-time
Non-controlling interests MinorityInterest $159.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.36B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.66B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.35B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.10B USD Point-in-time
Liabilities and Equity, Total LiabilitiesAndStockholdersEquity $9.76B USD Point-in-time
Liabilities and Equity, Total LiabilitiesAndStockholdersEquity $10.29B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueNet $1.32B USD 1 Quarter
Net sales SalesRevenueNet $1.31B USD 1 Quarter
Cost of sales CostOfSales $1.11B USD 1 Quarter
Cost of sales CostOfSales $1.07B USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAdministrativeExpenses $168.00M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAdministrativeExpenses $161.00M USD 1 Quarter
Interest expense InterestExpense $53.00M USD 1 Quarter
Interest expense InterestExpense $39.00M USD 1 Quarter
Other income, net OtherIncomeExpenseNet $4.00M USD 1 Quarter
Other income, net OtherIncomeExpenseNet $13.00M USD 1 Quarter
Income (loss) from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-7.00M USD 1 Quarter
Income (loss) from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $46.00M USD 1 Quarter
Income tax provision (benefit) IncomeTaxExpenseBenefit $-6.00M USD 1 Quarter
Income tax provision (benefit) IncomeTaxExpenseBenefit $15.00M USD 1 Quarter
Income (loss) from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $31.00M USD 1 Quarter
Income (loss) from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-1.00M USD 1 Quarter
Income from discontinued operations, net of income taxes IncomeLossFromDiscontinuedOperationsNetOfTax - USD 1 Quarter
Income from discontinued operations, net of income taxes IncomeLossFromDiscontinuedOperationsNetOfTax $13.00M USD 1 Quarter
Net income ProfitLoss $12.00M USD 1 Quarter
Net income ProfitLoss $31.00M USD 1 Quarter
Less: Net income attributable to non-controlling interests, net of income taxes NetIncomeLossAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Less: Net income attributable to non-controlling interests, net of income taxes NetIncomeLossAttributableToNoncontrollingInterest - USD 1 Quarter
Net income attributable to the company NetIncomeLoss $31.00M USD 1 Quarter
Net income attributable to the company NetIncomeLoss $11.00M USD 1 Quarter
Income (loss) from continuing operations attributable to the company IncomeLossFromContinuingOperations $-2.00M USD 1 Quarter
Income (loss) from continuing operations attributable to the company IncomeLossFromContinuingOperations $31.00M USD 1 Quarter
Income (loss) from continuing operations IncomeLossFromContinuingOperationsPerBasicShare $-0.01 USD 1 Quarter
Income (loss) from continuing operations IncomeLossFromContinuingOperationsPerBasicShare $0.18 USD 1 Quarter
Income from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $0.07 USD 1 Quarter
Income from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare - USD 1 Quarter
Net income attributable to the company EarningsPerShareBasic $0.18 USD 1 Quarter
Net income attributable to the company EarningsPerShareBasic $0.06 USD 1 Quarter
Income (loss) from continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $0.18 USD 1 Quarter
Income (loss) from continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $-0.01 USD 1 Quarter
Income from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $0.07 USD 1 Quarter
Income from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare - USD 1 Quarter
Net income attributable to the company EarningsPerShareDiluted $0.18 USD 1 Quarter
Net income attributable to the company EarningsPerShareDiluted $0.06 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 170.70M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 176.40M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 173.50M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 176.40M shares 1 Quarter
Cash dividends per share CommonStockDividendsPerShareDeclared $0.25 USD 1 Quarter
Cash dividends per share CommonStockDividendsPerShareDeclared $1.25 USD 1 Quarter
Cash Flow Statement 67 line items
Line Item Tag Value Unit Period
Special dividend PaymentsOfCapitalDistribution $175.00M USD 1 Quarter
Net income ProfitLoss $12.00M USD 1 Quarter
Net income ProfitLoss $31.00M USD 1 Quarter
Discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTax - USD 1 Quarter
Discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTax $13.00M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $93.00M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $97.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $7.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-12.00M USD 1 Quarter
Pension income (excluding settlements and curtailments) PensionIncome $20.00M USD 1 Quarter
Pension income (excluding settlements and curtailments) PensionIncome $30.00M USD 1 Quarter
Impairment of long-lived assets AssetImpairmentCharges $13.00M USD 1 Quarter
Impairment of long-lived assets AssetImpairmentCharges $11.00M USD 1 Quarter
Appreciation in cash surrender value insurance policies IncreaseDecreaseInCashSurrenderValueLifeInsurancePolicies $6.00M USD 1 Quarter
Appreciation in cash surrender value insurance policies IncreaseDecreaseInCashSurrenderValueLifeInsurancePolicies $11.00M USD 1 Quarter
Changes in working capital, excluding the effects of acquisitions and dispositions IncreaseDecreaseInOperatingCapital $213.00M USD 1 Quarter
Changes in working capital, excluding the effects of acquisitions and dispositions IncreaseDecreaseInOperatingCapital $182.00M USD 1 Quarter
Payment of alternative minimum taxes - forestlands sale IncreaseDecreaseInIncomeTaxesPaid $98.00M USD 1 Quarter
Payment of alternative minimum taxes - forestlands sale IncreaseDecreaseInIncomeTaxesPaid - USD 1 Quarter
Other, net OtherOperatingActivitiesCashFlowStatement $8.00M USD 1 Quarter
Other, net OtherOperatingActivitiesCashFlowStatement $-4.00M USD 1 Quarter
Net cash used in operating activities from continuing operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-110.00M USD 1 Quarter
Net cash used in operating activities from continuing operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-207.00M USD 1 Quarter
Discontinued operations CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations $-1.00M USD 1 Quarter
Discontinued operations CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations $23.00M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-87.00M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-208.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $115.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $66.00M USD 1 Quarter
Proceeds from dispositions of assets ProceedsFromDispositionsOfAssets $3.00M USD 1 Quarter
Proceeds from dispositions of assets ProceedsFromDispositionsOfAssets $5.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-3.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $3.00M USD 1 Quarter
Discontinued operations CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations - USD 1 Quarter
Discontinued operations CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations $1.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-60.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-112.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $7.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $50.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $24.00M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $20.00M USD 1 Quarter
Changes in notes payable and other short-term borrowings, net ProceedsFromRepaymentsOfShortTermDebt $3.00M USD 1 Quarter
Changes in notes payable and other short-term borrowings, net ProceedsFromRepaymentsOfShortTermDebt $11.00M USD 1 Quarter
Changes in bank overdrafts ProceedsFromRepaymentsOfBankOverdrafts $-22.00M USD 1 Quarter
Changes in bank overdrafts ProceedsFromRepaymentsOfBankOverdrafts $14.00M USD 1 Quarter
Dividends paid (including special dividend of $175 million paid in March 2014) PaymentsOfDividends $44.00M USD 1 Quarter
Dividends paid (including special dividend of $175 million paid in March 2014) PaymentsOfDividends $218.00M USD 1 Quarter
Stock repurchases PaymentsForRepurchaseOfCommonStock $305.00M USD 1 Quarter
Stock repurchases PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $13.00M USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $28.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $3.00M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $1.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-43.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-460.00M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-4.00M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $3.00M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-725.00M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-246.00M USD 1 Quarter
At beginning of period CashAndCashEquivalentsAtCarryingValue $417.00M USD Point-in-time
At beginning of period CashAndCashEquivalentsAtCarryingValue $332.00M USD Point-in-time
At beginning of period CashAndCashEquivalentsAtCarryingValue $1.06B USD Point-in-time
At beginning of period CashAndCashEquivalentsAtCarryingValue $663.00M USD Point-in-time
At end of period CashAndCashEquivalentsAtCarryingValue $417.00M USD Point-in-time
At end of period CashAndCashEquivalentsAtCarryingValue $332.00M USD Point-in-time
At end of period CashAndCashEquivalentsAtCarryingValue $1.06B USD Point-in-time
At end of period CashAndCashEquivalentsAtCarryingValue $663.00M USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $12.00M USD 1 Quarter
Net income ProfitLoss $31.00M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-22.00M USD 1 Quarter
Foreign currency translation OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $19.00M USD 1 Quarter
Adjustments related to pension and other benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-1.00M USD 1 Quarter
Adjustments related to pension and other benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-6.00M USD 1 Quarter
Net unrealized income on derivative instruments OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax - USD 1 Quarter
Net unrealized income on derivative instruments OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $6.00M USD 1 Quarter
Other comprehensive (loss) income, net OtherComprehensiveIncomeLossNetOfTax $20.00M USD 1 Quarter
Other comprehensive (loss) income, net OtherComprehensiveIncomeLossNetOfTax $-10.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $51.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $2.00M USD 1 Quarter
Less: Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $1.00M USD 1 Quarter
Less: Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest - USD 1 Quarter
Comprehensive income attributable to the company ComprehensiveIncomeNetOfTax $51.00M USD 1 Quarter
Comprehensive income attributable to the company ComprehensiveIncomeNetOfTax $1.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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